Wide Body Aircraft MRO Market Growth Industry Study in Detail along with Recent Study Segments, Future Growth, Upgraded technology and Latest Innovations by Trends by Forecast to 2021

MarketResearchFuture Analyst adds Wide Body Aircraft MRO Market report it contains in depth information major drivers, restraints, opportunities, challenges, industry trends, business structure and areas of operation, products and their impact on the market forecast. Component, Business Function, Type, Organization Size, Vertical and services offered by the company

Currently, there are more than 21,000 active widebody and narrowbody aircraft. The existing fleets will be replaced by more than 38,000 new aircraft over the next 20 years, and fleet across the world is likely to reach 45,000 aircraft by 2034. The widebody aircraft, in particular, would have increased orders from emerging regions, such as Asia, Westen Europe and the Middle East. Approximately, 7,000 widebody aircraft would be delivered to these regions in the next 20 years. On the other hand, 1,500 widebody aircraft would be delivered in the Americas.

In addition, outsourcing of aircraft MRO to a third-party company is the latest trend for airlines to reduce their maintenance expenditures, with 10-20% saving. In 2013, 65% of aircraft MRO was outsourced by all airlines, globally. There is an increased adoption of MRO outsourcing, due to the growing awareness of its benefits, such as low labor rates and adequate spare parts.
Like many airline companies around the world, Boeing outsourced its aircraft maintenance to reduce the MRO costs. 70% of the 787 Dreamliner MRO was outsourced to reduce the production time and costs. It also adopted a three-tiered outsourcing structure, in which Tier 2 and Tier 3 suppliers manufactured the aircraft parts, which were then assembled by Tier 1 manufacturers.

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Industry/ Innovation/ Related News:

May 2017:- France-based OEM Services signed a contract with the South Korean carrier Asiana Airlines, to support the future fleet of Airbus A350-900 aircraft, over a 15-year period.
November 2015:- Emirates signed a contract with GE Aviation for maintenance, repair and overhaul (MRO) of the GE9X engines that will power the airlines’ fleet of 150 Boeing 777X aircraft, over a period of 12 years. The contract is worth USD 16 billion.

Major Key Players

GE Aviation,
Honeywell Aerospace,
Lufthansa Technik,
Pratt & Whitney,
Rolls-Royce,
Abu Dhabi Aircraft Technologies,
Air France Industries KLM Engineering and Maintenance,
MTU Aero Engines,
Singapore Technologies Aerospace.

Regional Analysis

Asia, an emerging region in the long-haul international market, relies heavily on the small and medium widebody aircraft. It has a current fleet of more than 1,500 widebody aircraft which are to be replaced by an additional 3,500 aircraft by 2034. Due to the low labor rates, North American airlines outsource 60% of their heavy maintenance and airframe MRO, to Asia, which is a major source of income.

China, with a widebody fleet of more than 250, will average about 40 annual HMVs for the next five years. For China, HMV spending shows year-over-year increase from $35 million over the next 12 months, to $70 million in 2019. Moreover, AirAsia X signed a contract with Lufthansa Technik for the MRO services of its widebody fleet of eight Airbus A330s and A340s.

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